Market Cap

SPI

The SPI provides an overview of the Swiss market as a whole, since it lists virtually all shares of Swiss companies. It has been published since 1 June 1987. Its baseline value was established at 1,000 points.

The SPI contains all securities of Swiss companies that have a primary listing on the SIX Swiss Exchange, provided that they have a free float equal to or greater than 20%. To simplify performance comparisons, the SPI is divided into sectors on the basis of economic activity and individual sector indices are calculated. The companies included in the SPI are weighted according to their free float.

The SPI is a dividend-corrected price index. This means that dividends of the listed companies are taken into account in index development. The index level is calculated from the average of the market capitalization of the values included in the SPI.

The composition of the SPI is reviewed twice annually and adjusted when necessary. The adjustments are always made on the third Friday in March and September after the close of trading.

The SPI is traded each trading day between 9:00 am and 5:30 pm; the index level is calculated every three minutes. The closing auction takes place at 5:20 pm. Pre-opening takes place between 6:00 am and 9:00 am. Trading during pre-opening serves to determine the theoretical opening share price; orders are collected during this time but are not yet transacted. Post-trading takes place between 5:30 pm and 10:00 pm, during which time orders can be entered, but not yet transacted.